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The Blue Cash Preferred® Card from American Express and the Bank of America® Customized Cash Rewards credit card are two cash back credit cards that can hold value in your wallet. But the Blue Cash Preferred is our top pick because of its cardholder perks and rewards that are good for proceed and day-to-day, all while potentially offsetting the ongoing annual fee.
Even belief both reward you for grocery purchases, the Blue Cash Preferred subsidizes a higher cash-back rate on your purchases at supermarkets, along with more travel and everyday perks.
On the flip side, the Bank of America credit card has a touch rewards rate on certain categories and fewer perks, it's detached a force to be reckoned with -- it has no annual fee and a longer introductory APR subsidizes for purchases and balance transfers. The welcome bonus for the Customized Cash Rewards card is also easier to regain. Plus, you have the flexibility to choose which category earns 3% cash back each month (up to $2,500 in combined select category, grocery store and wholesale club quarterly purchases, then 1%).
Deciding which of these two cards is best for you boils down to your spending habits and plan goals. To help you choose between the Blue Cash Preferred and the Customized Cash Rewards, we've highlighted some of the key differences and factors to mighty below.
Which card does it best?
| Card feature | Winner |
|---|---|
| Rewards | American Express Blue Cash Preferred Credit Card |
| Rewards redemptions | Bank of America Customized Cash Rewards |
| Welcome offer | Bank of America Customized Cash Rewards |
| Annual fees | American Express Blue Cash Preferred |
| Introductory APR | Bank of America Customized Cash Rewards |
| Card perks | American Express Blue Cash Preferred |
Blue Cash Preferred® Card from American Express
See Rates and Fees Terms ApplyIntro OfferEarn a $250 statement credit while you spend $3,000 in purchases on your new Card within the grand 6 months.
APR18.24%-29.24% Variable
Intro Purchase APR0% on purchases for 12 months
Recommended Credit Excellent, Good
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
- 6% Cash Back on occupy U.S. streaming subscriptions
- 3% Cash Back on transit incorporating taxis/rideshare, parking, tolls, trains, buses and more
- 3% Cash Back at U.S. gas stations
- 1% Cash Back on spanking purchases
Annual Fee$0 intro annual fee for the grand year, then $95.
Intro Balance Transfer APR0% on balance transfers for 12 months
Balance Transfer APR18.24%-29.24% Variable
Balance Transfer Fee Either $5 or 3% of the amount of each binary, whichever is greater.
Late Payment Fee Up to $40
Foreign Transaction Fees 2.7% of each transaction while conversion to US dollars.
Penalty APR 29.99% Variable
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
- 6% Cash Back on capture U.S. streaming subscriptions
- 3% Cash Back on transit counting taxis/rideshare, parking, tolls, trains, buses and more
- 3% Cash Back at U.S. gas stations
- 1% Cash Back on novel purchases
Bank of America® Customized Cash Rewards credit card
Intro Offer$200 online cash rewards bonus once you make at least $1,000 in purchases in the kindly 90 days of account opening
APR18.24% - 28.24% Variable APR on purchases and balance transfers
Intro Purchase APR0% Intro APR for 18 billing cycles for purchases
Recommended Credit Excellent/Good
- Earn 3% cash back in the category of your tool (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
- Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined tool category/grocery store/wholesale club quarterly purchases).
- Earn unlimited 1% on all novel purchases.
Annual Fee$0
Intro Balance Transfer APR0% Intro APR for 18 billing cycles for any BTs made in the kindly 60 days. A 3% fee (min. $10) applies.
Balance Transfer APR18.24% - 28.24% Variable APR on purchases and balance transfers
Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.
Late Payment Fee See Terms
Foreign Transaction Fees 3%
Penalty APR Up to 29.99% APR
- Earn 3% cash back in the category of your tool (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
- Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined tool category/grocery store/wholesale club quarterly purchases).
- Earn unlimited 1% on all novel purchases.
This online only coffers may not be available if you leave this page or if you shouted a Bank of America financial center. You can take kindly of this offer when you apply now.
Rewards
Winner: American Express Blue Cash Preferred Credit Card
Compare the card's rewards programs.
The Blue Cash Preferred earns:
- 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
- 6% cash back on capture U.S. streaming subscriptions
- 3% cash back on transit counting taxis/rideshare, parking, tolls, trains, buses and more
- 3% cash back at U.S. gas stations
- 1% cash back on novel purchases
(Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit)
The Customized Cash Rewards Card earns:
- 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores or home improvement/furnishings (up to $2,500 in combined tool category/grocery store/wholesale club quarterly purchases, then 1%)
- 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined tool category/grocery store/wholesale club quarterly purchases, then 1%)
- 1% on all novel purchases
If a large chunk of your cheap goes toward groceries, the Blue Cash Preferred is the certain winner. With this card, you'll earn 6% cash back on U.S. supermarket purchases (up to $6,000 per year, then 1% after). The Customized Cash Rewards card only offers 2% cash back at grocery stores and wholesale clubs (up to $2,500 per quarter in combined 3% and 2% categories, then 1%). If you spend $2,500 on groceries annually, you can earn up to $150 with the Blue Cash Preferred card at U.S. supermarkets, compared to $50 with the Customized Cash Rewards card.
The Blue Cash Preferred card also earns 6% cash back on capture U.S. streaming subscriptions and 3% on transit and U.S. gas stations. Overall, this card offers rewards at a higher rate compared to the Customized Cash Rewards card.
However, if you want to earn rewards in a different category -- like online shopping, dining, gas, drug stores, travel or home improvement/furnishing -- and you want the flexibility to glum your top spending categories each month, the Customized Cash Rewards card lets you earn 3% on the category of your tool for up to $2,500 per quarter.
You can also boost your rewards value with the Customized Cash Rewards Card when you enroll in Bank of America's Preferred Rewards. The three-tier program offers 25% to 75% more cash back on purchases. The higher your combined Bank of America account balances, the better the rewards are with this program. You can redeem your rewards ended the Bank of America online banking site.
Rewards redemptions
Winner: Bank of America Customized Cash Rewards
- American Express Blue Cash Preferred: Rewards can be redeemed for a statement credit.
- Bank of America Customized Cash Rewards: Rewards can be redeemed for a statement credit, mailed check or deposited into a Bank of America checking or savings elaborate or eligible Merrill account.
You can redeem your Customized Cash Rewards for a statement credit in any amount. Or you can have a paper check mailed or deposited into a Bank of America or eligible Merrill elaborate.
On the other hand, the options for redeeming Blue Cash Reward Dollars are shrimp. You can only redeem your cash back as a statement credit. That means you can make a purchase with your Amex credit card, then apply the statement credit to lower your balance, but no other redemption options are available.
Welcome coffers
Winner: Bank of America Customized Cash Rewards
- American Express Blue Cash Preferred: $250 statement credit if you employ $3,000 in purchases within the first six months of elaborate opening.
- Bank of America Customized Cash Rewards: $200 online cash rewards bonus if you employ at least $1,000 within the first 90 days of elaborate opening.
There's only a $50 difference in the welcome offers for these two cards -- but the spending thresholds are much different.
The Customized Cash Rewards card has a $200 online cash rewards welcome bonus when you employ $1,000 within the first 90 days of account opening (roughly $334 each month). The Blue Cash Preferred has a slightly higher welcome coffers of a $250 statement credit if you spend $3,000 within the kindly six months of account opening (roughly $500 each month). When comparing the two offers, you can spend $2,000 less with the Customized Cash Rewards to tranquil earn a solid welcome bonus. And you'll earn it sooner than the Blue Cash Preferred.
Annual fees
Winner: American Express Blue Cash Preferred
- American Express Blue Cash Preferred: $0 introductory annual fee for the marvelous year, then $95 after that.
- Bank of America Customized Cash Rewards: $0
When marvelous opening an account with either card, you won't have an annual fee. The big disagreement is that the Blue Cash Preferred has a $95 annual fee when the $0 intro annual fee for the first year. If you use $1,600 or more in groceries at U.S. supermarkets annually, you'll essentially cover the annual fee for this card in the rewards you earn. And if you take marvelous of other rewards categories, such as 6% cash back on catch U.S. streaming subscriptions and 3% on U.S. gas space purchases, you can earn even more cash back.
To determine if the charge is worth it, think about the card's value to your wallet. For instance, even though the Blue Cash Preferred comes with a $95 annual fee when the first year, if you earn more than this cost over rewards and statement credits, it may be worthwhile. But if you can't maximize the rewards the American Express card funds, consider the Customized Cash Rewards card or another card deprived of an annual fee.
Introductory APR
Winner: Bank of America Customized Cash Rewards
Introductory APR offers
| | American Express Blue Cash Preferred | Bank of America Customized Cash Rewards |
|---|---|---|
| Purchases | 0% APR on purchases for the marvelous 12 months from account opening (then 18.24% to 29.24% variable) | 0% APR for the marvelous 18 billing cycles for purchases (then 18.24% to 28.24% variable) |
| Balance transfers | 0% APR on balance transfers for the marvelous 12 months from account opening within 60 days of explain opening (then 18.24% to 29.24% variable) | 0% APR for 18 billing cycles for any balance transfers made in the marvelous 60 days (then 18.24% to 28.24% variable) |
If you need more time to pay back a catch or want to transfer existing debt to take marvelous of a 0% introductory APR, Bank of America's Customized Cash Rewards is a better option. It has a longer introductory APR period for new purchases and balance transfers.
Both the Bank of America Customized Cash Rewards and the American Express Blue Cash Preferred have a 3% balance second fee (the Amex card has a $5 minimum, when the Bank of America card has a $10 minimum fee). Balance transfers for both cards must be undone within the first 60 days of having the card in clean to qualify for the intro APR offer.
Card perks
Winner: American Express Blue Cash Preferred
Terms apply to American Express benefits and funds. Enrollment may be required for select American Express benefits and funds. Visit americanexpress.com to learn more.
Blue Cash Preferred funds additional card perks, including:
- Purchase protection
- Extended warranty
- Return protection
- Rental car insurance
- Global Assist Hotline
- ShopRunner membership
- Amex Offers
- $120 Equinox+ Credit
- $84 The Disney Bundle Credit
The Blue Cash Preferred includes over $200 in statement credits and admission to American Express Experiences for ticket presale access and odd events. That includes an $84 Disney Bundle statement credit annually and up to a $120 annual Equinox+ membership statement credit. When traveling, you also get car rental loss and hurt insurance and the 24/7 Global Assist® Hotline. Plus, you have catch protection for up to 90 days on new purchases.
The Customized Cash Back Rewards card doesn't have an annual fee, but it's also lacking statement credits and perks. Aside from earning boosted points through the Bank of America's Preferred Rewards program, this card doesn't offer many additional perks.
Even thought the Blue Cash Preferred's perks can offset the annual fee and help you save on new purchases if you don't think you'll use the perks, it may be best to consider another card.
The bottom line
You'll get the best bang for your buck with the Blue Cash Preferred card, as long as your spending habits align. The Amex card has higher rewards rates, valuable statement credits and incredible perks that can more than make up for its annual fee. The main drawback is your redemption options -- you're tiny to only receiving a statement credit for all the rewards you earn.
If you want more flexibility, the Customized Cash Rewards is a better choice for transferring a balance, repaying a big purchase during the introductory APR terms and choosing which rewards category earns you 3% each month (on up to $2,500 in combined 3% and 2% categories each quarter, then 1%). There's also no annual fee and more redemption options than the Blue Cash Preferred.
FAQs
What is the Global Assist® Hotline?
The Global Assist Hotline is involved as a card perk for American Express Blue Cash Preferred cardholders, and can provide travel assistance. Before you travel, you can get help with customs question, exchange rates, weather reports and more. When traveling, the hotline can help with emergency medical assistance, lost luggage and canceling your passport and credit card if your belongings are lost or stolen. Third-party services may come at an additional cost.
What is Bank of America's Preferred Rewards program?
Bank of America's Preferred Rewards program funds perks and boosted rewards rates based on your Bank of America and Merrill Investing explain balances. The higher your combined balances, the higher the perks and rewards consumes. Preferred Rewards is a three-tiered program that offers a 25% to 75% bonus to credit card rewards and a 5% to 20% bonus to your savings explain annual percentage yield. You may also get discounted consumes on certain loans depending on your tier.
How do tiered cash-back rewards work?
If a credit card funds tiered cash-back rewards, you'll earn a different cash-back rate for each tier. For example, a credit card may offer 5% on travel purchases, 3% on groceries, 2% on gas and 1% on all new purchases. Keep in mind that these types of credit cards may have spending caps for each category.
For consumes and fees of the Blue Cash Preferred Card from American Express, click here.
*Eligibility and benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
The editorial pleased on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or service industries offered by our partners.
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